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AMG inks long-term deal with Glencore on available production supply

Author : Paroma Bhattacharya | Published Date : 2019-09-27 

AMG Advanced Metallurgical Group N.V. has recently announced to have entered a long-term agreement with Glencore AG, a subsidiary of Glencore plc, to supply all of its available ferrovanadium production from both the existing and the future Ohio units.

For the record, AMG Vanadium is a global leader in the eco-friendly conversion of oil refinery and power plant waste products into nickel, molybdenum and ferrovanadium, that is majorly used by global steel producers in energy transmission, infrastructure and automotive application.

By using materials that are otherwise considered waste and discarded, AMG Vanadium establishes environmental stewardship, resource recovery and energy conservation in line with CO2 reduction strategy of AMG.

Glencore is a major natural resource company. The firm is a major producer & marketer of more than 90 commodities. In addition, the group's operations comprise 150 metallurgical & mining sites, agricultural facilities and oil production assets.

With an expansive hold in both emerging and established regions for natural resources, industrial and marketing activities of Glencore are supported by a comprehensive network of over 90 offices located in more than 50 countries.

Even though Glencore has been operating in regions considered high-risk and high-reward for years, the firm is now quickly expanding into parts of the world that were improbable just a few years ago but offer safer opportunities now.

Glencore took major control of PolyMet Mining Corp last year, which is developing a mine near the Canadian border and is projected to hold a century’s worth of nickel and copper, owing to the development of electric vehicles.

For the first time the firm has controlled a major mining project in the U.S., where Donald Trump, the American President has cut down upon mining regulations in a proposal to encourage domestic mining. This marks a change from predecessor Present, Barack Obama, who maintained a stricter oversight of the sector and also ceased and slowed down several large mining projects.

Source Credits: https://www.reuters.com/article/us-glencore-risk-focus/glencores-risk-appetite-dwindles-fueling-focus-on-safer-regions-idUSKCN1VQ0FQ

About Author

Paroma Bhattacharya

Paroma Bhattacharya

Paroma Bhattacharya, having completed her post-graduation in Journalism and Mass Communication, started her career in writing with resourceful and informative content development across diverse fields. Having dealt in myriad topics ranging from business to real estate, she now pens down articles for fractovia.org and other portals. She can be contacted at- [email protected] | https://twitter.com/paromab1

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